This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

ACADIA Pharmaceuticals Reports First Quarter 2012 Financial Results

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders, today announced its unaudited financial results for the first quarter ended March 31, 2012.

ACADIA reported a net loss of $6.2 million, or $0.12 per common share, for the first quarter of 2012 compared to a net loss of $5.8 million, or $0.12 per common share, for the first quarter of 2011.

At March 31, 2012, ACADIA’s cash, cash equivalents and investment securities totaled $25.9 million compared to $31.0 million at December 31, 2011. ACADIA continues to expect that its current cash resources together with anticipated payments from its existing collaborations will be sufficient to fund its operations at least into the second quarter of 2013.

“The first quarter was highlighted by continued progress in our Phase III Parkinson’s disease psychosis program with pimavanserin, most notably the ongoing pivotal -020 trial, and by the extension of our longstanding discovery collaboration with Allergan,” said Uli Hacksell, Ph.D., ACADIA’s Chief Executive Officer. “We look forward to completing the -020 trial later this year, and believe that our pipeline of product candidates, led by pimavanserin, will provide the opportunity to drive significant value for ACADIA and its stockholders.”

Revenues totaled $450,000 for the first quarter of 2012, compared to $435,000 for the first quarter of 2011. ACADIA’s revenues were derived from its collaborations with Allergan, Inc. and Meiji Seika Pharma Co., Ltd., as well as from research grants.

Research and development expenses increased to $5.0 million for the first quarter of 2012, including $139,000 in stock-based compensation, from $4.4 million for the first quarter of 2011, including $120,000 in stock-based compensation. This increase was primarily due to increased external service costs associated with ACADIA’s Phase III clinical program with pimavanserin, offset in part by lower internal costs.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs